March Madness Bracket Contests
Indiana is quite familiar with March Madness brackets, having witnessed significant progress from their teams. From the era of Larry Bird’s dominant Indiana State Sycamores in the 1970s to deep tournament runs by IU, Purdue, Notre Dame, and Butler, residents of Indiana have often seen their bracket selections advance further than most.
With the advent of legal online sports betting, March Madness betting in Indiana has also significantly increased.
What distance should you allocate for IN teams in your March Madness bracket contest this year? Which are the top bracket contests to look out for? Discover the prime locations to submit your March Madness bracket selections at IN online sportsbooks. Click here to explore the top contests.
Top sportsbooks for betting on March Madness brackets
Top Free Contests for March Madness
March Madness bracket contests, which are free, provide a simple and reachable method to participate in March Madness betting without any risk. Generally, sportsbooks and sports media organizations host these free contests each year, offering different prize pools.
The contestants do not need to buy-in, so the generosity of these prize pools can fluctuate, usually starting at $10,000. DraftKings Sportsbook and FanDuel Sportsbook, two leading sportsbook and daily fantasy sports providers, typically host an event with a prize pool ranging from $250,000 to $1 million, along with a few other contests with smaller prize pools.
Large media outlets such as ESPN or Yahoo! occasionally host contests with a $1 million prize, but these attract millions of participants making it challenging to win any prize money. The highest scoring brackets will divide the predetermined prize pool according to their final ranking.
Though some March Madness bracket contests are yet to be announced, the following Indiana sportsbooks will offer both free and paid bracket contests for Indiana residents this year:
- DraftKings (Yuengling Bracket Battle, KFC Second Chance Survivor Pool, Survivor Pool)
- BetMGM Perfect Bracket Challenge ($10M)
$30,000 DraftKings Survivor Pool
This bracket pool operates similarly to an NFL Survivor pool, where your task is merely to select one team to triumph each day. Progress to the next round is granted if your chosen team wins its game. However, a loss for your team means you’re eliminated from the pool.
For each subsequent round, you are required to select a new team and cannot repeat your previous choices. Therefore, selecting Illinois as the winner of your initial round may not be the wisest decision. If you exhaust your options for new teams in a following round (that is, you’ve already chosen all the remaining teams), you will also be eliminated.
$60,000 Yuengling March Madness Bracket Battle
If you’ve previously participated in a bracket challenge, you’ll understand how to engage in this one. This conventional bracket contest involves predicting all 63 games ahead of time and seeing how things unfold. The Yuengling contest, which is free to enter, offers an additional payout of $60,000.
- Claim your $50 bonus bets and participate in free bracket challenges at DraftKings IN.
BetMGM $10 Million Perfect Bracket Challenge
For 2021, BetMGM has also launched a significant free March Madness bracket contest. This is the $10 Million Perfect Bracket Challenge and here’s how it operates:
- Select a flawless bracket and earn $10 million outright.
- Player who makes the most correct game predictions will receive a guaranteed prize of $100,000.
The scoring system is as straightforward as possible:
- Every game in the tournament is valued at one point.
- Your final total will not include the first four games.
Sign up for free via the link below to enter the contest at BetMGM sportsbook! Full contest details are available for review.
- Grab your $600 bonus bet and participate in free bracket challenges at BetMGM IN.
DraftKings $20,000 State Farm 2nd Chance Bracket
Could it have been Oral Roberts? Or maybe Abilene Christian? Perhaps North Texas? Or was it Loyola-Chicago?
Regardless of who predicted, practically everyone saw their bracket collapse quickly in the usual March Madness style. However, fortunately, there’s another opportunity with $20,000 available in a free second chance bracket contest starting with the Sweet 16. Below is how it operates:
- Select all 15 games from the Sweet 16 to the championship.
- Each game in the round of 16 is worth 10 points.
- 20 points worth Elite 8
- 40 points are worth the Final Four.
- Championship worth 80 points
Collect the entire $20k by earning the most points!
DraftKings $20,000 KFC 2nd Chance Survivor Pool
Similarly, if you were eliminated from the DK Survivor Pool, you have the opportunity to rejoin with the free 2nd Chance survivor pool. The terms and conditions remain the same; you can participate in either of the DraftKings Bracket Challenges by creating an account through the link provided below.
- Claim your bonus bets of $50 and participate in free bracket challenges at DraftKings IN.
Top earning March Madness brackets
Bracket contests, whether paid or free, typically have the same structure and scoring system. The main difference is that a fee is required to participate in a paid bracket contest.
As a trade-off, the prize pool is typically more substantial. The bigger the competition, the higher the potential winnings if your bracket ends up among the top ranks. It is anticipated that these sportsbooks will offer paid bracket contests in 2021:
March Madness brackets explained
March Madness garners widespread popularity due to its inclusivity. It is an event that engages everyone, be it co-workers, friends, or family, who all enjoy filling out the brackets prior to the tournament’s onset. Many participants are not avid followers of college basketball or even familiar with betting on the games.
To complete a bracket, you must forecast the entire tournament prior to any game being played. You select the victor of every match, and then for each following round, you choose the winner of the matchups that you’ve formed.
As we’re all aware, this frequently results in a team you predicted to advance far in your bracket being knocked out on the tournament’s first day. For instance, if you chose Indiana to win the entire tournament, but they get defeated in the Round of 32, it’s clear that you won’t be able to earn any of those possible points.
You have the option to participate in either free or paid contests. In free contests, the prize pool remains unchanged regardless of the number of participants. Winners will share the pre-set prize pool. On the other hand, paid contests require an entry fee, but this in turn increases the size of the prize pool with each entry.
Advantages and disadvantages of bracketing versus single game betting
As with many things in life, there are both advantages and disadvantages to completing a bracket versus betting on each game individually.
Pros:
- It’s more cost-effective. Utilizing a bracket allows you to participate in a free contest or in a paid contest with a one-time fee. In contrast, betting on each game separately will likely result in you spending more money in the long run, compared to a single payment.
- This approach provides you with more favorable results. Not every game needs to go as per your predictions while creating a bracket, you just need a sufficient number of things to go in your favor while hoping for others to falter. Moreover, spreads are irrelevant in brackets. For instance, if you wagered on the favorite team to cover a four-point spread and they win by a margin of two points, it’s disheartening. However, if you had selected them in your bracket, you would be pleased irrespective of the result!
- This can give you the sensation of being a genius. We all desire to assert our ability to accurately foretell the future, and this provides an opportunity to demonstrate that potential.
Cons:
- You’re required to select all games. The tournament often yields unpredictable results, hence the term “March Madness”. Your bracket will inevitably contain numerous incorrect predictions. This includes making selections for games involving teams you don’t know well. Your selections might be more accurate if you were to bet individually on each game.
- Your bracket may be ruined. Typically, by the close of the first weekend, the majority of brackets are severely damaged. However, if you wager on each game separately, you always have something to anticipate. Should your projected winner lose in the opening round, your bracket is essentially hopeless.
Second chance bracket contests
Your brackets are likely to get disrupted. It is probable that, by the conclusion of the tournament’s first weekend, you would have lost some teams from the Elite Eight and possibly even a Final Four team.
Perhaps you’ve had some bad luck and lost your champion. However, with a second chance bracket, your interest in the tournament can be reignited.
For instance, DraftKings conducted a highly popular $16,000 second chance bracket competition in 2019 that began solely with the Sweet 16 games. Participants generated a completely new bracket, choosing the winners from that stage onward.
How is the scoring done in bracket contests?
The majority of NCAA March Madness bracket competitions utilize traditional scoring systems. While some brackets do award extra points for accurately predicting upset victories, this is predominantly done in more intimate, smaller pools.
Most sportsbooks will use the following scoring system for the majority of their contests: You will earn the specified number of points for each team you correctly select to win in the subsequent rounds.
- 64th Round: 1 Point
- 32-Round: 2 Points
- Sweet 16: 4 Points
- Elite 8: 8 points
- Final Four: 16 Points
- Championship: 32 points
With this scoring system, it’s okay to make a few mistakes in the early rounds. However, if the teams you chose for the later stages of the tournament start losing, you could be facing trouble.
Steps to create and register an account
Now that Indiana has legalized online sportsbooks, participating in a March Madness contest, whether free or paid, has become effortless. Here are some straightforward steps:
- Check out the various promotions and sign-up bonuses on this page. By registering with a promotional offer, you’ll get off to an excellent start. After picking a sign-up offer, go to the chosen sportsbook(s) and set up your account. Fill in the necessary information such as your email, birth date, and password. If required, verify your identity. Next, download your preferred sportsbook app. This app enables you to place bets from anywhere in Indiana, whether you’re out running errands or simply relaxing at home, offering you convenience at your fingertips. If you’re entering a paid contest, ensure your account has sufficient funds. You can deposit money into your sportsbook account using the available options. Find the contests tab in the app, choose the contest you want to participate in, complete your bracket, and you’re in!
Odds for March Madness bracket contest
It’s challenging to complete a winning bracket, thus it’s not surprising that many individuals often fail. Given the high rate of failure, bracket contests and pools often have a substantial payout for the victor.
When participating in March Madness bracket competitions, it’s wise to not assume victory. The chances of outperforming everyone in your competition are quite slim. That being said, here are some strategies to improve your odds.
- Joining free brackets isn’t a poor choice, even though they may not provide as high payouts as paid brackets. You’re not taking on any risk by signing up. It’s recommended to add some free competitions to your paid bracket participation. If possible, try to join smaller pools. This is basic maths; you’re up against fewer people in a smaller pool. It’s easier to have the top bracket among 50 people than 500. The prizes might not be as large, but your chances of winning are greater. If possible, submit more than one entry. It’s all about the numbers; by submitting five brackets, your chances of winning increase compared to just one submission. However, make sure your brackets are different enough to justify multiple entries. Submitting the same bracket twice won’t increase your chances of winning.
Participate in a contest, like March Madness, with an attitude of enjoyment and embracing its rollercoaster of highs and lows. Consider winning as a surprising extra.
Three crucial tips for March Madness bracket
- Select some unexpected victors. Annually, underdogs surprise us by toppling the favorites. There’s always an underdog that makes it to the Sweet 16. If you consistently predict that the underdogs will advance in each match, your strategy is not only dull, but also likely to be erroneous. Don’t hesitate to gamble. In simpler terms, don’t tempt fate. Only once has a rank 16 seed managed to defeat a No. 1 seed. While advancing a No. 8 or No. 9 seed to the Sweet 16 might be enticing, picking the winner of that 8/9 match is quite challenging. The second round is typically won by No. 1 seeds 85% of the time. It’s prudent to pick a dark horse to win the entire tournament. Since 2002, except for UConn in 2014, all champions have been among the top three seeds. Be sure to consider all factors such as current performance, injuries, analytical data, game pace, coaching, and so on. Every edge matters.
3 Biggest Mistakes in March Madness Brackets
- Cinderella stories are enjoyable, but they typically have an ending. No squad with a seeding of 12 or above has ever made it to the Final Four. Similarly, no team with a seeding of 9 or above has ever advanced to the Championship game. Upsets can be predicted to some extent, but don’t overdo it and be aware of when to extinguish Cinderella’s candles.
- The game of basketball has evolved with the introduction of the three-point shot, a change that is especially noticeable in March. Interestingly, no team with a three-point shooting accuracy below 32.9% has ever clinched the Championship. So, before you root for a particular team to emerge as the ultimate winner, make sure they are proficient in long-range shooting.
- Don’t dismiss the No. 1 seeds prematurely. History shows that the Elite 8 has always included a one seed. Furthermore, no more than two top seeds have ever been eliminated in the tournament’s opening weekend. They perform well and their ranking as the one seed is justified.
How are brackets for March Madness established?
Originally, sixty-eight teams were chosen for the tournament. Of these, 37 teams were given an “at-large” bid, while the remaining 31 teams qualified automatically through conference tournaments.
Usually, the most disputed are the at-large bids, as they are given based on a wide range of factors such as a team’s record, quality of competition, unfortunate losses, significant wins, analytics, injuries, current form, etc., ranked by the committee. The teams that garner the most votes are awarded an at-large bid.
The committee determines the seeding by grouping and ranking teams against each other once the field is set. Then, they fill out the bracket based on the teams’ seeding.
Every year, four play-in games are held. The four poorest performing “at-large” teams compete to determine the final two 11 seeds. Meanwhile, the four weakest teams with automatic bids play against each other, with only two earning spots in the round of 64 as 16 seeds.
2021 March Madness schedule/locations
The entire tournament will occur in Indiana this year because of the pandemic. Venues include Mackey Arena, Simon Skjodt Assembly Hall, Bankers Life Fieldhouse, Hinkle Fieldhouse, Indiana Farmers Coliseum, and Lucas Oil Stadium. Lucas Oil Stadium will host both the Elite Eight and Final Four.
The tournament schedule is as follows:
- Sunday, March 14: Selection Sunday
- Thursday, March 18: First Four Play-In Games
- First Round: March 19 (Friday) & March 20 (Saturday)
- Round Two: Sunday, March 21 and Monday, March 22
- Sweet Sixteen: March 27 (Saturday) & March 28 (Sunday)
- Elite Eight: March 29 (Monday) & March 30 (Tuesday)
- April 3, Saturday: Final Four
- Championship: Monday, April 5
Betting on a single game during March Madness
March Madness may be centered around brackets, but that doesn’t prevent you from placing bets on the games as you would in regular basketball matches. Each game can be bet on individually, just like any other game throughout the season.
You have the option to wager on teams against the spread, or merely select the victor on the moneyline. You also have the option to place bets on the game exceeding or falling below the total. More detailed information about these betting options can be found on our primary March Madness betting page.
March Madness brackets FAQ
Once the field of teams and the seeds are known after Selection Sunday, the brackets are released.
Every competition comes with its own set of rules regarding the number of times you can participate. While some categories only permit a single entry, others let you participate as much as your budget allows. Please refer to the rules of the particular contest you’re interested in entering.
You may be considering submitting multiple brackets encompassing all possible combinations. Best of luck. There are 9,223,372,036,854,775,808 different potential combinations for a March Madness bracket, exceeding 9.2 quintillions.
If you’re basing each matchup on a coin flip, the probability of getting a perfect bracket is one in 9.2 quintillion. However, if you have more than average knowledge about basketball, the odds improve to about one in 120 billion.
The tournament consists of 63 games. The record for the longest streak of correct games at the start of a tournament is 49 games, set by Gregg Nigl in 2019.
The American Gaming Association estimates that 40 million unique Americans complete a total of 70 million brackets.